Cullen Frost Bankers Inc. Has $41.35 Million Stock Position in CocaCola Company (The) $KO

Cullen Frost Bankers Inc. reduced its stake in CocaCola Company (The) (NYSE:KOFree Report) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 623,432 shares of the company’s stock after selling 21,028 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in CocaCola were worth $41,346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in CocaCola in the 2nd quarter valued at $3,846,270,000. Vanguard Group Inc. lifted its holdings in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after buying an additional 6,241,163 shares in the last quarter. Laurel Wealth Advisors LLC boosted its position in shares of CocaCola by 7,239.2% in the second quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after acquiring an additional 6,065,840 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of CocaCola by 343.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,486,096 shares of the company’s stock valued at $297,518,000 after acquiring an additional 3,474,015 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in CocaCola by 28.7% during the second quarter. Schroder Investment Management Group now owns 11,713,984 shares of the company’s stock worth $828,764,000 after acquiring an additional 2,613,316 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $72.93 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 52 week low of $61.44 and a 52 week high of $74.38. The stock has a market capitalization of $313.69 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 3.75 and a beta of 0.39. The stock has a fifty day moving average of $70.66 and a 200-day moving average of $69.36.

Insiders Place Their Bets

In related news, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the transaction, the executive vice president directly owned 58,067 shares in the company, valued at $4,111,143.60. This represents a 70.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 211,704 shares of company stock valued at $15,005,595. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on KO. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Thursday. Bank of America lifted their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. TD Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Piper Sandler raised their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company lifted their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $79.08.

Check Out Our Latest Stock Report on KO

Key Headlines Impacting CocaCola

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CocaCola Profile

(Free Report)

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.

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Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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